Judgment Search Results Home > Cases Phrase: finance act 1970 chapter iii income tax Court: kolkata Page 1 of about 717 results (0.112 seconds)

Jiyajeerao Cotton Mills Ltd. Vs. Income-tax Officer, c Ward and ors.

Court : Kolkata

Reported in : [1981]130ITR710(Cal)

..... its income-tax return for the assessment year 1966-67, without claiming the said special rebate under paragraph f of part i of the first schedule to the finance act, 1965, in respect of its profits and gains attributable to the business of manufacture and production of soda ash in saurashtra chemicals but subsequently filed a revised ..... from a ship to which this section applies shall be computed in accordance with the provisions contained in chapter iv-d '. 24. in this context, mr. bajoria also cited a decision of the supreme court in cit v. s. s. sivan pillai : [1970]77itr354(sc) , where the supreme court observed as under (p. 357): ' the profits or ..... to be made in making such computation and sections 33 and 34 are the provisions for allowance of development rebate in computing such total income under the said chapter. 26. mr. pal submitted that the above provisions clearly show that the total income has to be computed after allowing all admissible deductions and allowances including .....

Shreeniwas and Sons Vs. Income-tax Officer, b Ward and ors.

Court : Kolkata

Reported in : 78CWN561,[1974]96ITR562(Cal)

..... , in respect of the amount of tax payable under the said finance act and the provisions contained in section 220(2) of the said act can be invoked only by the commissioner of income-tax and none else.3. provisions of chapter xvii-d of the income-tax act, 1961, shall be applicable in a voluntary disclosure, under sub-section (7)(a) ..... under section 220(2) of the act. a noticeof demand dated november 25, 1970, was issued requiring the petitioner to pay a sum of rs. 44,463 within 35 days of the receipt of the said notice of demand. by ..... according to the scheme approved. the petitioner paid the last instalment granted on january 4, 1969, thereby satisfying fully the original demand of tax raised. thereafter, on november 25, 1970, an order was passed by the income-tax officer, 'b' ward, asansol, by which the income-tax officer charged the petitioner with interest amounting to rs. 44,463 .....

Ensign Tankers (Leasing) Ltd. Vs. Stokes (inspector of Taxes).

Court : Kolkata

Reported in : [1991]191ITR419(Cal)

..... taxpayer company was not entitled to claim initial allowances under section 41(1) of the finance act 1971 in respect of two transactions related to two films ('escape to victory' and 'outland'). section 41(1) provides;'subject to the provisions of this chapter, where - (a) a person carrying on a trade incurs capital expenditure on the ..... in the purchase of the film ?if the partnerships qualified for first-year allowances under section 41, under section 155 of the income and corporation taxes act 1970 the partnership is to be treated for tax purposes as though it were a limited company, but in computing its tax liability no deduction is to be ..... are illuminating. first he held that the taxpayer company had invested in victory partnership as a tax deferral scheme : the taxpayer companys investment 'merely provided the finance necessary to enable trading transactions to be entered into. ' since this motivations had not been found by the commissioners to have had any adverse effect on the .....

Union of India (Uoi) and ors. Vs. Titaghur Paper Mills Co.

Court : Kolkata

Reported in : 81CWN226,[1978]112ITR100(Cal)

..... 'paper' the different varieties are not only differently enumerated but are subjected to different rates of excise duty.3. the finance act of 1965, in providing some tax relief, introduced a new scheme of tax credit certificate in chapter xxiib including therein a provision for such a credit certificate in relation to increased production of certain goods in section 280zd. ..... during any financial year commencing on the 1st day of april, 1965, or any subsequent financial year (not being a year commencing on the 1st day of april 1970, or any financial year thereafter) manufactures or produces any goods, shall be granted a tax credit certificate for an amount calculated at a rate not exceeding twenty-five per ..... 60 of 1974 arises. the said company challenged the assessment for the year 1967-68 in a writ petition which was registered as c.r. no. 1584(w) of 1970 out of which f.m.a. no. 64 of 1974 arises. the assessments for the years 1968-69 and 1969-70 were challenged in a writ petition by the .....

Appropriate Authority Vs. Lytton Hotel (P) Ltd.

Court : Kolkata

Reported in : [2003]130TAXMAN524(Cal)

..... is strengthened by instruction no. 1a88 issued by the central board of direct taxes of the government of india, ministry of finance, department of revenue. . ..' this document emphasized that the main object of chapter xx-c was to check proliferation of black money in real estate transactions and to enforce declaration of the true value of ..... 15 per cent in respect of market value and the apparent value. it had observed in the said decision at page 538 that in the interim report (1970) the wanchoo committee pointed out that understatement of prices in sale deeds of immovable properties was a widespread method of tax evasion and recommended a drastic remedy ..... the court cannot sit on appeal with regard to the valuation given in the valuation report while deciding such a question. the learned single judge had, however, virtually acted as the court of appeal. therefore, the order should be set aside.3. mr. bajoria, learned senior counsel for the assessee-respondent, on the other hand, .....

M/S.Srei Infrastructure Finance Ltd. Vs. Dy.Commissioner of Income Tax ...

Court : Kolkata

..... sub-section 3 of the finance act, 2008 provides, inter alia as follows: .the amount of income tax computed ..... collated as follows:(a)sub-section 1 of section 2 of the finance act, 2008 provides inter alia as follows: .such tax as reduced by the rebate of income tax calculated under chapter viii-a of the income tax act, 1961 (43 of 1961) (hereinafter referred to as the income tax act) shall be increased by a surcharge (b) second proviso to ..... under this sub-section shall be increased by a surcharge, . (c )sub-section 11 of section 2 of the finance act, 2008 provides, inter alia as follows: the amount of income tax as specified in sub-sections (1) to (10) and as increased by a surcharge, for purposes of .....

Commissioner of Income-tax Vs. West Bengal Industrial Development Corp ...

Court : Kolkata

Reported in : [1993]203ITR422(Cal)

..... deduction under this clause, i.e., clause (viii) of section 36(1) and chapter vi-a. 8. the question is whether, before the amendment made by the finance act, 1985, with effect from april 1, 1985, the computation of the total income for the purpose of relief under section 36(1)(viii ..... income for the above purpose was required to be computed before making any deduction under the newly added (from that year) chapter vi-a (at present comprising sections 80a to 80w). 7. by the amendment of the finance act, 1985, with effect from april 1, 1985, it has been provided that the total income shall be computed before making any ..... not only the computation should be made before making any deduction under chapter vi-a but before making also any deduction under the aforesaid provision, i.e., section 36(1)(viii). 18. section 10 of the finance act of 1985 has amended section 36(1)(viii) of the act with effect from april 1, 1985. the object of the said .....

Deputy Commissioner of Income Tax Vs. M.L. Dalmiya and Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2006)100TTJ(Kol.)613

..... oxford dictionary as "find unexpectedly or in the course of search. as per law lexicon 13l edition, the word "discover " (occurring in memorandum explaining the provisions of finance act, 2002) indicates a detection as result of uncovering, revealing and laying of open to view that was hidden, concealed or unknown. now, we will see the meaning of ..... the department and assessments have been completed then the same will be outside the scope of block assessment to be computed under special provisions of chapter-xiv-b of the income tax act, 1961.22. concluding his argument, it has been submitted by the ld. counsel that the entire addition made by the a.o. was ..... entered in the books maintained by the assessee regularly and disclosed to the department can also not be regarded to be undisclosed income. the assessment under this chapter shall be in addition to regular assessment and income assessed will not be included in regular assessment.32. the hon'ble tribunal in its celebrated case of m .....

Dwarkanath Chatterjee and ors. Vs. Union of India (Uoi) and ors.

Court : Kolkata

Reported in : (1995)127CTR(Cal)116,[1995]213ITR470(Cal)

..... noted earlier, a new provision for purchasing immovable property by the central government in certain cases of transfer, under chapter xx-c of the act, has been introduced by the finance act, with effect from october 1, 1986. by this chapter xx-c of the act, a scheme has been introduced which empowers the central government to purchase immovable properties which are being offered for sale ..... on january 28, 1994, with the writ petitioners nos. 1 to 5 to develop the said premises. by the finance act, 1986, with effect from october 1, 1986, chapter xx-c consisting of sections 269u to 269uo was inserted in the income-tax act, 1961, with the object of inducing the transferors and the transferees to declare the full amount of consideration in their .....

F. S. Securities Ltd. Vs. Inland Revenue Commissioners.

Court : Kolkata

Reported in : [1965]58ITR756(Cal)

..... in section 257(2) of the act of 1952. i had better quote it in ful : 'in this section, and in the subsequent provisions of this chapter, investment company means a company the income whereof consists mainly of investment income, and ..... has now been codified in the income-tax act of 1952. (see chapter iii thereof, comprising sections 245 to 264 inclusive.) in this field, therefore, it is advantageous to be a trading company and disadvantageous, as a rule, to be an investment company.the legislature originally defined an 'investment company' by section 20 of the finance act, 1936. the like definition is now contained .....